Corporate financial statements b.v.raghunandan

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deals with the vertical format of final accounts in India

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Corporate financial statements b.v.raghunandan

  1. 1. Corporate Financial Statements B.V.Raghunandan, SVS College, Bantwal
  2. 2. Preparation of Financial Statements• As per the provisions of Companies Act• Compliance with Accounting Standards prescribed by National Advisory Council on Accounting Standards• A profit and loss account and• A Balance Sheet arranged by the Schedules provided in the Companies Act• Vertical Format as contained in Schedule VI to Companies Act
  3. 3. Specimen of Vertical Format of Balance Sheet Amount Amount Schedule Sources of Funds (Current (Previous No Year) Yr)I Shareholders’ Funds:(a)Share Capital 1(b)Reserves & Surplus 2II Loan Funds: 3(a)Secured Loans(b)Unsecured Loans ------------ --------------- ------------ Total ------------ --------------- ------------
  4. 4. Specimen of Vertical Format of Balance Sheet Amount Amount Application of Funds Schedule No (Current Year) (Previous Yr)I Fixed Assets 4II InvestmentsIII Current Assets:(a) Inventories 5(b) Sundry Debtors 6(c) Cash & Bank 7(d) Other Current Assets(e) Loans & Advances 8(-) Curr. Liab& Provisions: (a) Current Liabilities 9 (b) Provisions 10IV.Misc. Expenditure 11 ---------- --------------- ------------Total ------------ --------------- ------------
  5. 5. Schedule 1: Share Capital AmountAuthorised:…………… Shares of Rs…………….each -------------------------------Issued:………….. Shares of Rs……………..eachSubscribed:………….. Shares of Rs…………….eachCalled Up and Paid-Up:………….. Shares of Rs…………….. Each ------------------------------(-) Calls-in-Arrears -------------------------------Paid-Up -------------------------------
  6. 6. Schedule 2: Reserves and Surplus Amount General Reserve - Profit & Loss Account Dividend Equalisation Fund Investment Fluctuation Fund Debenture Redemption Fund Workmen Compensation Fund ------------------------------- -------------------------------
  7. 7. Schedule 3:Secured Loans Amount1. Debentures -2. Loans & Advances from Banks3. Loans & Advances from Subsidiaries4. Other Loans & Advances ------------------------------- Total -------------------------------
  8. 8. Schedule 4: Fixed Assets Amounti. Goodwillii. Landiii. Buildingsiv. Leaseholdsv. Railway Sidingsvi. Plant & Machineryvii. Furniture & Fittingsviii. Development of Propertyix. Patents, Trade Marks and Designsx. Livestockxi. Vehicles ------------------------------- Total
  9. 9. Schedule 6: Sundry Debtors AmountSundry Debtors:A) Debts Outstanding for More than Six MonthsB) Others(-) Reserve for Doubtful Debts(-) Reserve for Discount on Debtors ------------------------------ Total -------------------------------
  10. 10. Schedule 7: Cash & Bank AmountCash in HandBalances with Bank ------------------------------ -------------------------------
  11. 11. Schedule 8: Loans & Advances AmountPrepaid ExpenseLoans to SubsidiariesTax Deducted at SourceAdvance Payment of TaxAdvances to Staff ------------------------------- -------------------------------
  12. 12. Schedule 9: Current Liabilities Amount1) Acceptances/Bills Payable -2) Sundry Creditors3) Unclaimed Dividends4) Other Liabilities ------------------------------ ------------------------------- -
  13. 13. Schedule 10: Provisions Amount1) Provision for Taxation2) Proposed Dividends3) Contingencies4) Provident Fund Scheme5) Staff Benefit Schemes6) Other Provisions ------------------------------ -------------------------------
  14. 14. Schedule 11: Miscellaneous Expenditure Amount1) Preliminary Expenses2) Share or Debenture Issue Expenses3) Discount on Issue of Shares4) Interest Paid out of Capital5) Development Expenditure6) Profit & Loss Account7) Other Items ------------------------------ -------------------------------
  15. 15. Vertical Form of Profit & Loss AccountParticulars Schedule Current Yr Previous Yr No Figures FiguresIncome Sales 12 Other Income 13Increase/Decrease in Inventory 14 Total Income ------------------- -------------------- ---------------------Expenditure: ------------------- -------------------- ---------------------Cost of Material 15Staff Salary 16Other Expenses 17Interest 18Depreciation 19 -------------- Total Expenditure --------------
  16. 16. Schedule Fig. of Fig. Prev Particulars No Cur. Yr Yr1) Profit Before Taxation & Extraordinary Items (Income-Expenditure)2) Extraordinary Items -20-3) Profit for the Current Year4) Prior Period Adjustments -21-5) Profit Before Taxation6) Profit of the Previous YearTotal Profit Available forAppropriations
  17. 17. Schedule Fig. of Fig. Prev Particulars No Cur. Yr YrAppropriations:Proposed DividendTransfer to Statutory ReserveTransfer to General ReserveTransfer to Debenture Redemption ReserveTotal Profit carried down
  18. 18. Thank You

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